Customers are dissatisfied with Rivian’s delay in delivery

Many consumers who have ordered a fully electric Rivian R1T pickup are tired of long delivery delays and have scratched their heads as to why some orders take precedence over others.

The recent launch of the electric car has changed the order of production of its cars. Thus, it now gives priority to vehicles with special interior, exterior and wheel options, rather than cars ordered or ordered. Rivian says the move will reduce the hassle for its suppliers and increase production.

However, this has stalled many early bookers. One such booker is Jeff Wells, who received an R1T in early 2019, but some of those who ordered the trucks years later have already delivered the truck, but have not yet delivered.

Also read: Rivian’s contract dispute with a seat supplier has led to a drop in stock prices.

The Rivian R1T was the first fully electric pickup to hit the market, however Reuters He noted that any delay in delivery will be costly for the automaker, as new electric pickups, including the Ford F-150 Lightning, will be launched.

Rivian currently has $ 16 billion in cash, but Morgan Stanley analyst Adam Jonas said $ 1.2 million was burned for a car delivered in the first quarter and that he plans to spend $ 7 billion this year in cash. In a recent call with investors about Rivian’s earnings, Jonas warned Claire McDonough, the automaker’s chief financial officer, “since then.” [Rivian’s] IPO, the world has changed dramatically, investors do not want to finance companies that grow negatively in this environment EBITDA.

Rivian assured the analyst that he could control his costs by simplifying its composition and reducing costs.

The company believes that the worst of the semiconductor shortage is behind it, but has not yet said when it will benefit from every car it sells. Lucid CEO Peter Rawlinson said Rivian would have to raise the price of the stickers to $ 95,000 if he wanted to make a profit.

RC Verma

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